Babylon Hotel announces its profits for two fiscal years

by **claud39** Sun Jan 05, 2020 8:34 am

Babylon Hotel announces its profits for two fiscal years

05/01/2020

Economy News _ Baghdad

The management of the Babylon International Hotel Company announced its profits for the fiscal years 2017 and 2018, confirming that the hotel is ISO certified and its stock price has risen to the highest levels.

The Babylon Hotel Management said in a press statement issued by its media office and seen by "Al-Iqtisad News", "We announce to our esteemed shareholders the results achieved for the fiscal years 2017 and 2018 of its annual profits and as a result of the tireless effort and hard work and responsibility of the company’s board of directors who was able to move forward in correcting the path For this company. "

She explained, "Despite all previous obstacles, accumulations and security conditions, he was able to recover this company from collapse by referring the hotel to investment to Al-Aba for Tourism and Hotel Services and the international companies operating Warwick and Rotana", stressing that "the hotel has become comparable to international hotels and obtaining the ISO certificate At the level of five stars, the prices of our hotel shares rose to the highest levels, ahead of all similar companies and other companies in the Iraq Stock Exchange, and we were able to bridge the accumulated deficit that exceeded 160 percent and pay all taxes, employee dues and repayments. To ensure social and other debt as we were able to obtain debt incurred on third parties for the benefit of the hotel. "

She added that "the hotel achieves very good profits and we will distribute 200 percent profits for the years 2017 and 2018 for the shareholders as the hotel’s board of directors is looking for new investment opportunities with the amounts achieved by the correct investment of this ancient edifice which has become a requirement for all Arab and foreign tourists as well as embassies and international companies for its atmosphere Distinguished tourism, and with all of its progress, we have become the leading hotel in the field of investment in the tourism sector.

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